On July 26, 2021, Viavi Solutions announced that it is disappointed that Germain Lamonde, EXFO's Chairman and majority shareholder, and the EXFO special committee had rejected its increased binding proposal to acquire EXFO for US$8.00 in cash per share. Viavi Solutions stated that using his privileged vantage point as Executive Chairman and controlling shareholder, Lamonde crafted an inadequate, squeeze-out offer of US$6.00 per share to EXFO minority shareholders, priced at the low end of the US$5.75 to US$7.50 valuation range provided by the EXFO special Committee's own valuator.